Its a top oil firm after the $23-billion deal and is soon expected to be a must-have stock. Suncor Energy Inc, newly bulked up from its C$22.5 billion (US$ 20.8 billion) acquisition of Petro-Canada, would likely be the No. 2 issue on the Toronto Stock Exchange's (TSX) benchmark index GSPTSE, with a market cap close to C$55 billion. Suncor is set to be Canada's biggest energy company and largest industrial concern. The beefed-up firm is likely to see early demand for its shares from index funds. It is also set to attract big investors that need substantial holdings in large, liquid stock issues.
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Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Caza Oil & Gas, Inc. reported the Company’s final audited results for the year ended December 31, 2008. W. Michael Ford, Chief Executive Officer, commented: I am pleased to announce continued success in Caza’s exploration and production activities. Over the course of 2008, we have experienced a 92% success rate on our drilling program. As [...]
The National Iranian Oil Company inaugurated its representative office in the China’s capital, Beijing, in a bid to promote energy cooperation. China is one of Iran’s chief crude oil customers. Iran supplies 13 percent of China’s need for crude oil, ranking the third after Saudi Arabia and Angola. For full story, click here